India: Lok Sabha approves taxation, other laws (Amendment) Bill 2026
India's Lok Sabha passed the Taxation and Other Laws (Amendment) Bill (Bill No. 150 of 2026) 2026 on 6 August 2026, after it was introduced in Parliament on 4 August. The Bill proposes a series of amendments to the Income-tax Act, 2025, the
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Australia: ATO urges large corporates to verify tax transparency data ahead of October report
The Australian Taxation Office (ATO) reminded large corporate taxpayers on 5 August 2026 to review their corporate tax transparency data before the publication of the 2024–25 Corporate Tax Transparency Report. For the 2024–25 income year and
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Korea (Rep.) updates Pillar Two, CFC rules among other measures in 2026 Tax Reform Plan
Korea (Rep.)'s Ministry of Economy and Finance (MoEF) has unveiled its 2026 Tax Reform Plan, proposing a broad package of tax measures aimed at strengthening domestic manufacturing, supporting innovation, expanding tax relief for households and
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Belarus, Myanmar income tax treaty enters into force
The income tax treaty between Belarus and Myanmar entered into force on 15 July 2026. Signed on 28 November 2025, the agreement provides for the avoidance of double taxation of income of tax residents of Belarus and Myanmar. It covers income tax
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Taiwan reminds businesses of documentation requirements for CFC FVPL tax deferral election
Taiwan's Ministry of Finance, in a notice on 4 August 2026, has reminded enterprises that elect to defer the recognition of unrealized gains and losses from fair value through profit or loss (FVPL) financial instruments held by their Controlled
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Thailand extends reduced VAT rate period to September 2027
Thailand’s Revenue Department has confirmed that the Value Added Tax (VAT) rate of 7% will continue following the Cabinet’s approval of a proposal to extend the period for reducing the VAT rate until 30 September 2027. The Ministry of
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Australia: Treasury consults on CGT, Negative Gearing Tranche 2
The Australian Treasury has launched a public consultation on the Capital Gains Tax and Negative Gearing – Tranche 2 legislation on 4 August 2026. Comments on the consultation are due by 21 August 2026. In the 2026–27 Budget, the
See MoreAustralia: ATO sets final reminder for TPAR, ends paper lodgments
The Australian Taxation Office (ATO) has issued a final reminder that businesses and government entities making payments to contractors must lodge their Taxable Payments Annual Report (TPAR) on 3 August 2026. The ATO has also announced that it no
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Australia: ATO updates Pillar Two guidance on GIR lodgment, joint ventures
The Australian Taxation Office (ATO) has updated its guidance on Lodging, Paying and Other Obligations for Pillar Two on 4 August 2026. The revised guidance introduces new sections covering the lodgment of the GloBE Information Return (GIR),
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Argentina, Korea (Rep. of) conclude income tax treaty negotiations
Korea (Rep. of) and Argentina concluded negotiations on an income tax treaty on 31 July 2026, according to a Korean government release on 3 August 2026. During a summit in Buenos Aires, South Korean President Lee Jae-myung and Argentine President
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Bangladesh offers up to 5% income tax rebate for returns filed by 30 September 2026
The National Board of Revenue (NBR) has announced a tax incentive for eligible taxpayers who submit their income tax returns by 30 September under the provisions of the Income Tax Act, 2023, offering a rebate of up to 5% of the tax payable to
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Malaysia extends foreign-sourced income tax exemption to end-2030
Malaysia has published the Income Tax (Exemption) (No. 3) Order 2024 (Amendment) Order 2026 in the Official Gazette on 29 July 2026, under which the exemption period in the Income Tax (Exemption) (No. 3) Order 2024 has been extended from 31 December
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India publishes 25-26 APA report highlighting record agreements
India's Income Tax Department has released the Advance Pricing Agreement (APA) Programme Annual APA Report FY 2025-26, detailing record activity under the country's APA programme, legislative reforms that took effect on 1 April 2026, and progress in
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Turkey introduces nuclear energy tax exemptions, establishes vehicle excise floors
Turkey has enacted Law No. 7590, introducing several tax measures, including reforms to the special consumption tax (SCT) on motor vehicles, new tax incentives for the nuclear energy sector, and an extension of employment support measures. The law
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EU unleashes broad trade defence campaign targeting China, Russia, and now US Biofuels
The European Union executed a significant protectionist shift this week, defined by a sustained and escalating campaign of trade defence actions. The week began with sweeping new controls on Russian industrial materials taking effect and was
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Croatia, Tajikistan to start tax treaty negotiations
The Croatian government, at a meeting on 30 July 2026, approved a proposal to negotiate an income tax treaty with Tajikistan. Based on the OECD Model Tax Convention, the proposed agreement would aim to promote bilateral trade and investment by
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Philippines launches EVIS programme with up to 40% investment support for EV manufacturers
The Philippines has introduced a new package of tax incentives for the electric vehicle sector under the Electric Vehicle Incentive Strategy (EVIS) Programme, approved through Executive Order No. 121. Executive Order No. 121 establishes the EVIS
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Malaysia issues transfer pricing guidelines for intra-group loans
Malaysia's Inland Revenue Board (IRBM) has published the Malaysia Transfer Pricing Guidelines for Intra-Group Loans (MFTIL), providing a comprehensive framework for determining whether financing transactions between associated persons comply with
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